Gold Rate Update: In one form or another, gold is present in most Indian houses. Indians have always bought gold to build up savings for important financial goals or rainy days. So, buying gold is seen as a way to provide financial support. At the moment, gold can be bought physically or with paper money. Each has a distinct method for buying the golden metal. In India, the cost of 22-karat gold is currently Rs 5,755 per gram, whereas 24-karat gold is priced at Rs 6,278 per gram.
Gold futures can be speculative
Investing in gold can be done through gold futures, but they are very speculative and can be dangerous for first-time buyers. With gold futures, a buyer and seller engage into a contract whereby the buyer commits to buying a predetermined quantity of gold at a predetermined price on a predetermined date, regardless of the state of the market. That implies that you could lose a lot of money (or your entire investment) if you hold the investment and the price drops right before the contract expires.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57450 |
| Delhi | 57600 |
| Kerala | 57450 |
| Pune | 57450 |
| Lucknow | 57600 |
| Patna | 57600 |
| Nagpur | 57450 |
| Chandigarh | 57450 |
| Surat | 57600 |
| Bhubaneswar | 57600 |
Gold Rate Update: On MCX
People believe gold to be safe because it’s one of the few tangible assets available. Buying gold is not as easy as investing in real estate or other tangible assets. Because gold is solid rather than digital, it is also resistant to theft and other forms of deception. However, there is a significant risk associated. So keep these in mind. On the MCX, gold futures with a maturity date of February 5, 2024, were trading at Rs 62542 per 10 grams, up 0.16 percent from their previous price. The price of silver futures, which mature on March 5, 2024, increased by 0.03 percent on the MCX and were trading at Rs 74850 a kilogram.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
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